This week, the global cosmetics and personal care industry highlighted the growing convergence of retail expansion, portfolio investment and supply chain transformation, as beauty groups, retailers and manufacturers advanced acquisitions, infrastructure projects and international growth strategies across multiple markets.
Retail and capital markets activity remained prominent. AS Watson continued preparations for a potential dual IPO that could value the business at up to US$30 billion. JD.com explored a potential £2 billion acquisition of UK retailer The Very Group, while Primark targeted expansion into Abu Dhabi following its Dubai debut. In the US, Olive Young launched its first physical store and online platform in California.
Financial performance and market growth updates reflected continued momentum across key channels. Bath & Body Works exceeded Q1 guidance as its turnaround strategy gained traction. Yatsen reported strong skincare growth in Q1 2026 despite wider losses. Walmart cited beauty sales as a contributor to strong Q1 growth, while Target reported higher beauty sales supported by digital expansion. South Korea overtook the US in cosmetics exports, reaching a record US$11.4 billion in sales.
M&A and investment activity continued across the sector. Proya acquired a controlling stake in Flower Knows to strengthen its makeup portfolio. Bella Hadid’s Ôrəbella secured growth investment and appointed a new CEO to support international expansion. LG Household & Health Care moved to sell Haitai htb as part of its renewed focus on beauty.
Innovation and product development remained active. Debut partnered with Natura to develop an AI-discovered skin longevity ingredient for the Latin American market. Revlon partnered with Pokémon on a limited-edition Ditto lip scrub collection. The Ordinary launched a free express bus route in Brooklyn as part of a consumer engagement initiative.
Manufacturing, packaging and supply chain investment continued across multiple regions. Unilever completed a £150 million investment in its Port Sunlight manufacturing hub. International Paper broke ground on a US$225 million corrugated packaging plant in Mississippi. Rising naphtha costs increased pricing pressure across diapers, sanitary products and cosmetics in Japan.
Regulatory and governance developments remained in focus. India moved to tighten regulations covering skin-enhancing and aesthetic treatments. Finland proposed fines against wild berry companies following a long-running cartel investigation. The head of the Japan Cosmetic Association was convicted in a bribery case linked to the University of Tokyo.
Consumer trends and market expectations also featured this week. UK consumers called for greater ingredient transparency across beauty and personal care products. Weleda partnered with the RHS Chelsea Flower Show to mark 100 years of Skin Food.
Geopolitical and commodity supply developments continued to influence the sector. Indonesia moved to strengthen commodity export controls through a state-run agency. Russia explored palm oil imports from Nigeria as demand growth created new trade opportunities.
Taken together, this week reflected continued activity across retail expansion, portfolio investment and manufacturing development, alongside evolving regulatory frameworks, consumer expectations and global trade dynamics shaping the cosmetics and personal care industry.
